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The high court's order in U.S. v. Newman appears to end the government’s quest to overturn a decision with which it deeply disagrees. (Credit: Law360)

Supreme Court Rejects Newman Insider Trading Appeal

The U.S. Supreme Court on Monday declined to hear the federal government’s appeal of the Second Circuit’s landmark Newman decision on insider trading, rejecting the opportunity to rule on the thorny and divisive definition of what constitutes the crime.

  • BP To Cough Up $20B In Deepwater Spill Settlement

    The U.S. Department of Justice on Monday unveiled the final terms of BP Exploration & Production Inc.'s agreement to pay over $20 billion to settle federal and state claims stemming from the 2010 Deepwater Horizon disaster, sending the largest pollution judgment in U.S. history to a Louisiana federal judge for approval.

  • Bristol-Myers Squibb Pays $14M Over Alleged China Bribes

    Bristol-Myers Squibb Co. on Monday agreed to pay $14 million to settle allegations by the U.S. Securities and Exchange Commission that its representatives in China bribed state-owned and state-controlled hospitals to boost prescription sales.

  • San Jose Strikes Out In MLB Antitrust Immunity Challenge

    The U.S. Supreme Court on Monday denied a bid to hear an antitrust lawsuit by the city of San Jose, California, against Major League Baseball over the potential relocation of the Oakland Athletics, putting an end to the latest challenge to professional baseball's long-held exemption from antitrust law.

  • High Court Denies Schwab Appeal In Crisis-Era Class Action

    The U.S. Supreme Court on Monday denied a petition from a unit of Charles Schwab Corp. seeking a review of a Ninth Circuit decision to revive a suit brought over the firm's risky bets on complex mortgage securities that the firm made in 2007.

  • American Apparel Files For Chapter 11

    Beleaguered clothing retailer American Apparel filed for bankruptcy Monday in Delaware amid a prolonged sales slump, unable to right persistent financial problems that have plagued the company while it has been busy battling its controversial founder Dov Charney for control of the business.

  • TPP Officials Strike Deal After Marathon Session

    Trade ministers for the U.S. and 11 other nations on Monday reached an agreement on the Trans-Pacific Partnership, which will link up 40 percent of the world’s economy, following a feverish round of last-minute negotiations that stretched over the weekend.

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